Bridge Loan Commitment Clause Samples

Bridge Loan Commitment. So long as any Loan (as defined in the Bridge Loan Agreement) is outstanding under the Bridge Loan Agreement or Santander has any obligation to make or maintain any credit extension under the Bridge Loan Agreement, the amount of $43,000,000; otherwise, $0 (zero).

Bridge Loan Commitment. Subject to the terms and conditions of this Agreement, the Lenders hereby agree to make available to Borrower for borrowing on the Funding Date, subject to the conditions in Section 5.01, bridge loans (the "Bridge Loans") in an aggregate principal amount of up to $450,000,000, each such Lender committing to lend the amount set forth next to such Lender's name on the signature pages hereto. The commitments of the Lenders to make the Bridge Loans to Borrower pursuant to this subsection 2.01(a) are herein called individually, a "Bridge Loan Commitment" and collectively, the "Bridge Loan Commitments."

Bridge Loan Commitment. Subject to the terms and conditions set forth herein and in reliance on the Company's covenants, representations and warranties set forth herein, each of the Lenders hereby agrees to purchase from the Company, and the Company agrees to issue and sell to each of the Lenders, on the Closing Date, Bridge Notes in the aggregate principal amount of seventy-five million dollars ($75,000,000) (such aggregate amount, the "BRIDGE LOAN"), with each Lender committing to purchase its Commitment Percentage of such aggregate principal amount of Bridge Notes. The Lenders' commitment to purchase the Bridge Notes hereunder is called individually such Lender's "BRIDGE LOAN COMMITMENT", and collectively the "BRIDGE LOAN COMMITMENTS".

Bridge Loan Commitment. Subject to the terms and conditions of ---------------------- this Agreement, the Lenders hereby agree to lend to the Borrower on the Closing Date $100,000,000 in the aggregate (the "Bridge Loan"), each such Lender committing to lend the amount set forth next to such Lender's name on the signature pages hereto. The Lenders' commitments to make the Bridge Loan to the Borrower pursuant to this SECTION 2.1A are herein called individually, the "Bridge Loan Commitment" and collectively, the "Bridge Loan Commitments."

Bridge Loan Commitment. (a) For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Heftel hereby irrevocably commits to Borrower to cause Lender to make, and to ensure that Lender has the funds to make, the Bridge Loan to Borrower, subject only to the following conditions: (i) Borrower shall have provided the Borrowing Notice at least four business days prior to the Effective Date; (A) Borrower shall have furnished to Lender the items set forth in Section 2.6(a); and (B) Borrower or DRI (as applicable) shall have furnished to Lender the items set forth in Section 2.6(b) contemporaneously with the funding of the Bridge Loan on the Effective Date; (iii) the Effective Date shall not be prior to July 1, 1999; and (iv) Except with the prior written consent of Lender (which consent shall not be unreasonably withheld or delayed), Borrower shall not have knowingly amended any provision of the Stock Purchase Agreement, knowingly consented to any default by the sellers thereunder or knowingly waived any condition to the closing of the DRI Acquisition, if the direct consequence of such amendment, consent or waiver by Borrower would reasonably be expected to materially and adversely impact the value of the Station's Governmental Licenses or main transmitter site lease, or (assuming Lender shall have entered into an agreement with respect thereto) the ability of Lender to consummate the Asset Purchase. Recognizing that Borrower is obligated to complete the DRI Acquisition as of 9:00 a.m., Dallas, Texas time, on the Effective Date, Lender agrees that the Bridge Loan will consist of immediately available funds on the Effective Date and that it will instruct its banks to wire such funds (pursuant to Borrower's written wire transfer instructions) as promptly as practicable after the opening of business on the Effective Date. (b) The Borrower may elect at any time prior to the Effective Date to terminate the Lender's obligation to make the Bridge Loan by so notifying the Lender in writing; provided, however, that Borrower shall repay to Lender any Breakage Costs as a result of any such termination made after the Borrowing Notice has been issued (it being understood that Lender will use commercially reasonable efforts to minimize such Breakage Costs). In the event of such termination, the Lender shall, as promptly as practicable after the Commitment Termination Date and repayment of such Breakage Costs, (i) return to Borrower the items referred to in Secti...

Bridge Loan Commitment. See Section 2.1.

Bridge Loan Commitment. Unless the Borrower elects the Eurodollar Rate as described below, the interest rate on outstanding principal amounts under the Bridge Loan Commitment is the lesser of (a) the Maximum Rate, or (b) the rate (the "BRIDGE RATE") that is equal to the sum of the Bank's Reference Rate plus 1.375%. Notwithstanding the foregoing, if at any time the Bridge Rate shall exceed the Maximum Rate and thereafter the Bridge Rate shall become less than the Maximum Rate, the rate of interest payable shall be the Maximum Rate until the Bank shall have received the amount of interest it otherwise would have received if the interest payable had not been limited by the Maximum Rate during the period of time the Bridge Rate exceeded the Maximum Rate.

Bridge Loan Commitment. (a) Subject to the terms and ---------------------- conditions of this Agreement and in reliance upon the representations and warranties of the Loan Parties herein set forth, PSCC hereby agrees to make Bridge Loans to the Borrower from time to time in an aggregate principal amount not exceeding $250,000,000 (the "Bridge Loan Commitment"). Following any sale, transfer or negotiation by PSCC pursuant to Section 11.2 hereof of any portion of the Bridge Loan Commitment to one or several new Lenders, the terms "Bridge Loan Commitment," individually, and "Bridge Loan Commitments," collectively, as used herein, shall refer to the commitment of each of PSCC and such new Lender or Lenders to make its pro rata portion of each Bridge Loan to the Borrower pursuant to this Section 2. (b) This Agreement will not be in the nature of a revolving credit facility, and amounts borrowed and repaid hereunder at any time may not be reborrowed.

Bridge Loan Commitment. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company and the Borrower herein set forth, the Lenders hereby agree to lend to the Borrower on the Initial Takedown Closing Date $145,617,902.25 in the aggregate (the "Initial Bridge Loan") and on the Final Takedown Closing Date $104,382,007.75 in the aggregate (the "Final Bridge Loan," and together with the Initial Bridge Loan, the "Bridge Loan"), each such Lender committing to lend the aggregate amount set forth next to such Lender's name on the signature pages hereto. The Lenders' commitments to make the Bridge Loan to the Borrower pursuant to this Section 2.1 A are herein called individually, the "Bridge Loan Commitment" and collectively, the "Bridge Loan Commitments."